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Wacker Chemie takes in 352 mln eur with Siltronic stake sale
March 15, 2017 / 7:20 AM / 8 months ago

Wacker Chemie takes in 352 mln eur with Siltronic stake sale

ESSEN, Germany, March 15 (Reuters) - German specialty chemicals maker Wacker Chemie said on Wednesday it took in 352 million euros ($374 million) in gross proceeds by cutting its stake in silicon wafer group Siltronic to 30.8 percent from 51.8 percent.

“The successful placement of this large block of shares underscores the trust investors have in Siltronic AG,” Wacker Chemie Chief Executive Rudolf Staudigl said.

Wacker Chemie sold 6.3 million of its Siltronic shares to institutional investors at a price of 55.85 euros apiece. ($1 = 0.9410 euros) (Reporting by Christoph Steitz; Editing by Victoria Bryan)

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